March 15, 2021 by ARAG
TORONTO, ON, MAR. 15, 2021/insPRESS/ – The German ARAG Group, a global leader in legal expenses insurance and currently active in 19 countries, acquired DAS Legal Protection Inc. in Canada which is part of the Munich Re / ERGO Group. Founded in 2010, the Toronto-based company, is a leading Canadian managing general agent specializing in legal expense insurance with premiums under management of around 29.3 million Canadian dollars in 2019. The product portfolio comprises legal expenses insurance products for families, landlords, condominiums / stratas and small businesses in Canada. The current Canadian staff of DAS will be retained.
“With this acquisition, we are striving to expand and strengthen our existing operations in Canada. The Canadian LEI market offers promising opportunities with sound growth potential. Thus, ARAG advances its successful international expansion strategy,” explains Dr. Renko Dirksen, Speaker of the Management Board of ARAG SE. “With DAS’ sales network and experienced team, we are complementing our current Canadian activities. It will also allow us to leverage synergies, accelerate growth, as well as support economies of scale and scope”, adds Dr. Renko Dirksen. ARAG recently commenced business operations in Australia and acquired DAS’ operations in the Republic of Ireland.
The ARAG Group officially launched its Canadian subsidiary, ARAG Services Corporation, in 2016. The Toronto-based company operates as managing general agent offering legal expense insurance products underwritten by HDI Global Specialty SE. ARAG Services Corporation has an innovative and comprehensive range of legal expense products and legal services for brokers, underwriting agents and insurers in Canada, targeting groups, businesses, families and landlords alike.
“We will strengthen our presence while keeping up our top-notch service to our customers as well as our excellent relationships with our business partners”, states Barbara Haynes, CEO of ARAG Canada. “After the successful integration of the two teams, we look forward to improving our operations through technology and digital tools – and continuing to develop best-in-class legal expenses insurance products and services, building on the international skills of the ARAG Group”, explains Barbara Haynes.
Both parties agreed to not disclose the purchase price.
CEO ARAG Services Corporation
ARAG Canada is part of the ARAG Group, the largest family-owned enterprise in the German insurance industry. Active in 19 countries, including the USA and Australia, ARAG holds a leading position as provider of legal insurance and legal services in numerous markets. With more than 4,300 employees, ARAG generates revenue and premium income totaling 1.8 Billion Euro.